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Thursday, 16 October 2014

NCR real estate hails polls surveys, hopes of market revival

Realtors and local players expect that the realty
market, which offers thousands of jobs and a major contribution to the
economy, will revive in a couple of months.

Real estate sector players said that with polls surveys, revival
signing were visible. Indian stocks climbed to record highs just after
exit polls. The players strongly believe that there would be control in
price rise this will further help to reduce construction cost. Apart
from that, companies and buyers who have been holding their decisions of
investment for a longtime, will jump in the market.

Poll projections have floated a new wave of expectation in UP’s
industrial and real estate sector. Experts believe that a clear mandate
will lead to economic growth. They also believe that the market is
sentimental and will respond very soon — possibly breach an all time
high. Amit Gupta, MD, Orris Infrastructure said, “For the last few
months the Indian real estate was witnessing major downslide. Even the
results of four states assembly elections had left a positive impact on
the Indian market. We are hopeful that the real estate market, which
provides bread and butter to crores of people of this country, would be
revived soon. There is no doubt that the mandate will pump the market.
The positive sign will be visible in the coming days.”

Anil Mithas, CMD, Unnati Fortune Group said that positive sentiment
was missing from the market, which is why some sectors were not doing
well. With the functioning of the new government, the market will
witness more growth and strength. “Real estate had started witnessing
revival signings after four assembly polls last year in December and
it’s the right time to buy property. Post elections, rates would go up
and put burden on the buyer’s pocket. The poll surveys displayed by
media houses are reflecting stable government,” Mithas said.

“For that last one-and-a-half decades no big industry has associated
its name with Greater Noida and Ghaziabad, which is called the
industrial hub of Uttar Pradesh. Credit goes to poor infrastructure,
maligned law and order and ‘gunda and jungle raj’. We are sure that a
clear mandate and stable government will impact the NCR region as well,”
said Aditya Ghildiyal, president, AGNI (Association of Greater Noida
industries).